Equities close lower as earnings weigh; Fed statement on tap
Tue July 29, 2025 4:23 PM
A few major Q2 reports came in on the downside today and the whole market slid with the three indexes spending almost all day in the red, the Dow down 3-digits. UPS sinking over 10% after once again declining to report forecasts sent a challenging message of how badly the continuously changing trade policy is messing with the company and, by extension, the economy as a whole. Earnings are mixed and there hasn’t been enough positive economic data to move the needle with the Fed.
However, the next two days will yield a much clearer picture as the Magnificent Seven reports come in and which will be sufficiently significant to either move the market up or down depending. Today’s good news is that 2/5 of the S&P has now reported with average profits being 6.4% above forecasts vs 6.3% average over the last four quarters. Consumer confidence has also increased but hiring has decreased pointing to a slowdown in the job market. Volume coming in at 18 billion was right in line with the average of 17.9 billion.
DJ: 44,837.56 -64.36 NAS: 21,178.58
+70.27 S&P: 6,389.77
+1.13 7/28
DJ: 44,632.99 -204.57 NAS: 21,098.29 -80.29 S&P: 6,370.86 -18.91 7/29
No comments:
Post a Comment